Tata Capital Home Loan EMI Calculator

EMI stands for equated monthly instalments. These instalments are to be paid every month on a specific date for the tenure of the availed loan or till the loan is repaid. The amount includes the sum of the principal amount and the interest amount. A home loan availed for a longer tenure helps reduce the amount of EMI. Given below is a table for reference:

As you can infer from the above table that for the different loan amounts availed at the lowest available home loan interest rate, the EMI is different for the loan tenures of 15 years, 20 years and 30 years of the same loan amount. The EMI amount is higher for the loan tenure of 15 years, whereas it decreases significantly for the loan tenure of 30 years. The EMI amount consists of the principal repayment and the interest payment. Though the EMI amount remains the same throughout the loan tenure, the repayment of principal and the payment of interest within the EMI are different. With every EMI, the proportion of principal repayment increases, whereas the interest component in the EMI decreases.

A home loan EMI calculator is an online feature provided by many websites where the customer who wants to avail a home loan can calculate the estimated amount of the monthly instalment (EMI) to be made towards the repayment of their respective home loan. It is both convenient and easy to use for the customers to calculate their EMI amount and provides accurate results within seconds. Depending on factors like the loan tenure, loan amount and rate of interest, the customers can get an estimate of the amount to be paid monthly. Calculating the Loan EMI manually using various combinations of the principal loan amount, tenure and rate of interest tends to be time-consuming and may be prone to errors.  Paisabazaar.com offers an online feature where the customer can calculate their EMI amount by filling in the amounts in their Home Loan EMI calculator tool, which gives them faster and accurate results. Customers who wish to avail of a home loan from Tata Capital can visit Paisabazaar’s official website and navigate to their home loan EMI calculator to get desired results with precision and free of charge.

When it comes to buying a property, financial planning is of the essence. The loan availed for such a purpose tends to be a significantly large amount, and hence, it is important to consider all the aspects of the loan. The home loan EMI calculator gives the customer an estimate of the amount to be repaid to the bank against their loans and thus helps the customer in choosing the amount to be availed according to their financial situation. It also helps the customer in estimating the monthly EMI to be paid, which helps them in preparing their monthly budget in advance, to ensure timely payment and avoid home loan default.

You can use Paisabazaar’s home loan EMI calculator by visiting their official website www.paisabazaar.com and scrolling to their home loan EMI calculation section and inputting the values for the following:

• Loan Amount – It is the amount that the customer will borrow from the bank in the form of a loan.
• Loan Tenure – It is the period over which the customer will repay his entire loan amount. Loans with longer tenures tend to reduce the EMI amount.
• Interest rate (% P.A.) – It is the rate at which the bank is lending money to the customer. Higher interest rates result in higher EMI amounts. The customer should compare different interest rates before opting for a home loan.

Some of the ways in which a customer can reduce their home loan EMI are given below:

• Customer can opt for longer loan repayment tenures.
• Customer can opt for step down EMI plans.
• Customer can compare and choose the home loan with the lowest interest rates.
• Customer can prepay his or her loan as early as possible.

Customer can consider a home loan balance transfer.